“There is once again disappointment from RBI. There was no change in the rates in previous policy announcement and the real estate sector was expecting a rate cut this time,” said Lalit Jain, President of the apex realtors’ body CREDAI.

“We don’t see any positive policies from government which will boost the real estate sector and economy as well,” he added.

The realty sector is the growth-engine of the nation’s economy, but it seems the sector does not figure in RBI’s policies at all, Magazine added.

Cushman & Wakefield Executive Managing Director, South Asia Sanjay Dutt said RBI maintaining status quo on policy front is not positive news for both home buyers and developers.

“For the housing sector, this may not be a very positive news as end-users, who have been postponing their purchase decision on account of still high inflation and high interest rates, cannot expect any relief in the near future,” Dutt said.

The outlook for the sector remains cautious as persistent high inflation rates are keeping construction costs up, which are not expected to come down in the near future, Dutt added.